How Quarantine Affects Business – Infographic

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Apart from the closure of enterprises, the country has experienced a sharp decline in sales

How many companies closed during quarantine – infographics in Ukraine. Photo: 112.ua

After the introduction of quarantine in Ukraine, 29% of the companies suspended their activities, and 6% stopped the business altogether. During a case study, reports such data were obtained by the Society of Ukrainian Entrepreneurs with the Ukrainian Marketing Group UNIAN With reference to Opendatabot.

It is noted that after two weeks of quarantine, 2.5 thousand Ukrainian institutions stopped functioning. From March 23, sales of catering establishments in Ukraine decreased by an average of 73% compared to the period before quarantine.

There is also a sharp drop in sales in Ukraine:

Kiev – 78%
Live – average 78%
Kharkov – 73%
Dipropro – 65%
Odessa – By 60%

It has been reported that enterprises that operate dramatically reduce profits and reduce employees. So, a third of business owners (mainly micro) claim a 90-100% income drop from the start of quarantine. These entrepreneurs hired up to 50% of the workforce. Owners of small and medium-sized businesses talk about a 25–50% reduction in income compared to the pre-quarantine period and have already laid off 10 to 25% of workers. Large enterprises’ revenue reduction of up to 10-25%, with an anticipated shortage of staff by the end of restrictive measures.

In addition, the number of jobs in Ukraine is decreasing. Therefore, the number of companies with active vacancies has decreased by 25%. It was also previously reported that under quarantine conditions, every fourth business in the country would be able to withstand 2-3 months and would not go bankrupt.

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Earlier, the Mayor of Kiev, Vitali Klitschko, said that without the aid of the state, the city would not be able to financially provide half a million Kiwis, who were forced to take holidays at their own expense. According to the head of the Kyiv City State Administration, the president assured that they plan to resolve the issue related to cash payments to everyone who is not forced to work during the quarantine period.

Read: The fight against Coronavirus: what Ukraine is doing to support trade


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